Best Time To Trade

chajones · February 4, 2005

I just bought a 96 ES300 with only 46,000 miles and it is in excellent shape and well maintained. I bought it for $8500, private party sale, but from my wife's co-worker. In short, I believe I got a great deal. I drive about 35,000 miles a year and my next car will probably be a 2-5 year old Lexus. I am seeking advice as to when the best time to trade for the next car. Should I drive this one till it drops (hopefully about five years)? Or should I seek to drive it a shorter to and try to get some value for it?

NeiLtYmE · February 4, 2005

the low miles are actually to your advantage in that you get more use out of the vehicle. using this car a few more years, making the car well over a decade old and even considering it has low miles will bring in little trade in value. But your use of this car, if in the shape you explain with its low miles, should get you very many more years of service.

And i dont think "driving till it drops" is ganna be anytime soon, as long as everything was services properly.

that is an amazingly low mileage car for the year... waht a catch

gbhrps · February 4, 2005

From what you've described you're already on the correct time to deal path. Drive the car you have now until it starts to cost more to repair than what the car is worth, then trade up to the same type of vehicle you just found. Buying something that has been well cared for and has super low miles is the only way to go. You get to drive a far better car than you could afford new, someone else has taken the depreciation kick, and your car payments allow you to splurge on other things you need or want. My wife and I have been doing this for over 20 years with both of our daily drivers. The key is to buy a car that shows pride of ownership by the previous owner, and then take care of it. Sure is nice to not have big car payments each month, be able to drive something classy and dependable, and have the money left over for vacations, spoiling yourself, or even an antique car or other toys.

SW03ES · February 4, 2005

The low mileage is going to be of more value to you in ability to drive the car for an extended legnth of time than in trade in dollars. It make only effect the price you'll get a few hundred bucks. I'd drive it a while.